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SCHW

SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation (the “Company”) today announced that it
will redeem on December 1, 2017, all of the 485,000 outstanding shares
of its 6.00% Non-Cumulative Perpetual Preferred Stock, Series B (“Series
B Preferred Stock”), and the corresponding 19,400,000 depositary shares
(“Depositary Shares”), each representing a 1/40th interest in
a share of the Series B Preferred Stock. The Depositary Shares are
currently traded on the New York Stock Exchange under the symbol SCHW
PrB (CUSIP 808513204). The Depositary Shares will be redeemed at a
redemption price of $25.00 per Depositary Share.

Since the redemption date is also the dividend payment date, the
redemption price of $25.00 per Depositary Share does not include
declared and unpaid dividends. Regular quarterly dividends were declared
in the amount of $0.375 per Depositary Share, and will be paid
separately in the customary manner on December 1, 2017 to holders of
record at the close of business on November 16, 2017.

The Depositary Shares are held in book-entry form through the Depository
Trust Company (“DTC”) and will be redeemed in accordance with the
procedures of DTC. Payment to DTC for the Depositary Shares will be made
by Wells Fargo Bank, N.A. as redemption agent. The address for Wells
Fargo Bank, N.A. is 1110 Centre Pointe Curve, Suite 101, Mendota
Heights, Minnesota 55120-1400, Attention: Corporate Actions.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of
financial services, with more than 345 offices and 10.6 million active
brokerage accounts, 1.6 million corporate retirement plan participants,
1.2 million banking accounts, and $3.18 trillion in client assets as of
September 30, 2017. Through its operating subsidiaries, the company
provides a full range of wealth management, securities brokerage,
banking, money management, custody, and financial advisory services to
individual investors and independent investment advisors. Its
broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,
http://www.sipc.org),
and affiliates offer a complete range of investment services and
products including an extensive selection of mutual funds; financial
planning and investment advice; retirement plan and equity compensation
plan services; referrals to independent fee-based investment advisors;
and custodial, operational and trading support for independent,
fee-based investment advisors through Schwab Advisor Services. Its
banking subsidiary, Charles Schwab Bank (member FDIC and an Equal
Housing Lender), provides banking and lending services and products.
More information is available at www.schwab.com
and www.aboutschwab.com.